Platinum – Mining Weekly reported that Northam Platinum has agreed to look into the Zondereinde mine’s bonus system in an effort to put an end to the strikes that have crippled production since April 2.
Platinum – Mining Weekly reported that the strike at Northam Platinum’s Zondereinde mine has continued despite the Labour Court's issuance of an interdict to roughly 500 workers, which ruled that the work stoppage was unprotected.
Platinum – Mining Weekly reported that Sable Platinum has entered into an agreement to buy a 4% interest in Global Initiatives for the amount of $4 million. Moreover, the company has been given the option to acquire 22% additional interest in the company in increments of 6 percent, 5 percent and 11 percent.
Platinum – Mining Weekly reported that Canada-based companies, HTX Minerals and Transition Metals have signed a definitive agreement to combine their businesses and implement an all-script plan of arrangement, under which the latter would acquire all HTX securities.
Platinum – Mining Weekly reported that approximately 500 rock drill operators at Northam Platinum’s Zondereinde mine who went on strike since April 4 have yet to return. The workers demand a 38% increase in their bonuses.
Platinum – Mining Weekly reported that Northam Platinum said it has lost R46.2 million in revenue due to rock drill operators refusing to go underground at its Zondereinde mine since April 2.
Platinum – Bloomberg reported that platinum futures for July delivery declined 1.6% as the global economy continue to improve, cutting the demand for haven assets.
Platinum – Reuters reported that platinum fell 1.4% to $1,568.50/ounce on US economic optimism amid high auto sales.
Platinum – Bloomberg reported that Lonmin’s newly appointed CEO Ben Magara is seen struggling to restore platinum output and repair the company’s reputation after a 6-week strike at the company’s mine which led to numerous casualties.
Platinum – Bloomberg reported that many precious metals are headed for their worst quarterly run as the dollar strengthened but spot platinum advanced 0.2% and is poised for a quarterly advance.
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